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The latest batch of finance stats from Credit Action reveals that unemployment in the UK is at its highest level in 16 years. There are 2.51 million unemployed adults of working age in this country at present, something certainly fuelling our ongoing personal debt problems. Perhaps more alarmingly is the fact that over 750,000 of those people have been unemployed for more than a year.

These figures have been released alongside statistics showing that someone in the UK is declared bankrupt or insolvent every 51 seconds. With an average household debt £57,915, the loss of a job can be a devastating blow, leading to a complete inability to meet your monthly financial commitments.

If you’re struggling to make ends meet or just want expert, confidential debt management advice, get in touch with MoneySolve today on 0800 040 7064.

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